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FEBRUARY 15, 2018

We are very privileged to have attorney Tina Harkness, Esq., SPHR, Director of the Northern Regional Office of the Mountain States Employer’s Council coming back to present:

Sexual Harassment: How to Prevent, Respond, and Move Forward

With Sexual Harassment dominating the headlines, now is the perfect time to ensure that your organization is equipped to prevent sexual harassment in your workplace. Join us for a discussion about how not only to prevent, but also how to effectively respond to allegations of sexual harassment, as well as how to move your employees forward during such a critical time. ​

Monthly Business/Speaker Luncheon Meetings

We invite you to come join us for a delicious catered speaker luncheon the third Thursday of each month, February through November of each year. The cost of your first chapter visit/lunch is only $10! Subsequent meeting costs will be $25.00 for Colorado APA chapter members. The Non-member cost is $35. See Upcoming Events for meeting information. An R.S.V.P. is required to ncpchapter@gmail.com. Monthly meetings are held at the Loveland Chamber of Commerce, 5400 Stone Creek Circle, Loveland, CO.The business luncheon meeting will start promptly at 11:30 a.m. Speakers will present from 12:00 pm to 1:00 pm.

In our monthly chapter meetings we strive to provide you with the most current information possible. The speakers that we invite to present to our chapter members are professionals who are experts in their field. They come equipped with the most up-to-date legislative, payroll, or HR-related information to help make your payroll efforts more efficient and precise. To join NCPA, see “Membership” tab.

WASHINGTON — The Internal Revenue Service today released Notice 1036, which updates the income-tax withholding tables for 2018 reflecting changes made by the tax reform legislation enacted last month. This is the first in a series of steps that IRS will take to help improve the accuracy of withholding following major changes made by the new tax law.

The updated withholding information, posted today on IRS.gov, shows the new rates for employers to use during 2018. Employers should begin using the 2018 withholding tables as soon as possible, but not later than Feb. 15, 2018. They should continue to use the 2017 withholding tables until implementing the 2018 withholding tables.

Many employees will begin to see increases in their paychecks to reflect the new law in February. The time it will take for employees to see the changes in their paychecks will vary depending on how quickly the new tables are implemented by their employers and how often they are paid — generally weekly, biweekly or monthly.

The new withholding tables are designed to work with the Forms W-4 that workers have already filed with their employers to claim withholding allowances. This will minimize burden on taxpayers and employers. Employees do not have to do anything at this time.

“The IRS appreciates the help from the payroll community working with us on these important changes,” said Acting IRS Commissioner David Kautter. “Payroll withholding can be complicated, and the needs of taxpayers vary based on their personal financial situation. In the weeks ahead, the IRS will be providing more information to help people understand and review these changes.”

The new law makes a number of changes for 2018 that affect individual taxpayers. The new tables reflect the increase in the standard deduction, repeal of personal exemptions and changes in tax rates and brackets.

For people with simpler tax situations, the new tables are designed to produce the correct amount of tax withholding. The revisions are also aimed at avoiding over- and under-withholding of tax as much as possible.
To help people determine their withholding, the IRS is revising the withholding tax calculator on IRS.gov. The IRS anticipates this calculator should be available by the end of February. Taxpayers are encouraged to use the calculator to adjust their withholding once it is released.

The IRS is also working on revising the Form W-4. Form W-4 and the revised calculator will reflect additional changes in the new law, such as changes in available itemized deductions, increases in the child tax credit, the new dependent credit and repeal of dependent exemptions.

The calculator and new Form W-4 can be used by employees who wish to update their withholding in response to the new law or changes in their personal circumstances in 2018, and by workers starting a new job. Until a new Form W-4 is issued, employees and employers should continue to use the 2017 Form W-4.

In addition, the IRS will help educate taxpayers about the new withholding guidelines and the calculator. The effort will be designed to help workers ensure that they are not having too much or too little withholding taken out of their pay.

For 2019, the IRS anticipates making further changes involving withholding. The IRS will work with the business and payroll community to encourage workers to file new Forms W-4 next year and share information on changes in the new tax law that impact withholding.

Due to the tax law changes signed into law on December 22, 2017, the IRS withholding calculator is currently unavailable. ‎The IRS will update the calculator as soon as updated withholding information is available. The IRS anticipates that the calculator will be available by the end of February.

In addition, the IRS is working to develop withholding guidance to implement the tax reform bill. We anticipate issuing the initial withholding guidance in January, and employers and payroll service providers will be encouraged to implement the changes in February. The IRS emphasizes this information will be designed to work with the existing Forms W-4 that employees have already filed, and no further action by taxpayers is needed at this time.

Use of the new 2018 withholding guidelines will allow taxpayers to begin seeing the changes in their paychecks as early as February. In the meantime, employers and payroll service providers should continue to use the existing 2017 withholding tables and systems.

The IRS is also working to revise Form W-4, Employee’s Withholding Allowance Certificate. The revised calculator and new Form W-4 can be used by employees to update their withholding in response to the TCJA or changes in their personal circumstances in 2018, and by employees starting a new job. Until a new Form W-4 is issued, employees and employers should continue to use the 2017 Form W-4.

Resources for Tax Law Changes

The IRS is working on implementing this major tax legislation that will affect both individuals and businesses. Check the Resources for Tax Law Changes page for the latest updates.

Get Ready for Taxes

Changes to the ITIN Program

Your ITIN may expire before you file a tax return in 2018. All ITINs not used on a federal tax return at least once in the last three years will expire on December 31, 2017. Additionally, all ITINs issued before 2013 with middle digits of 70, 71, 72 or 80 are expiring. If you need to file a tax return in 2018, IRS recommends you renew your ITIN. The IRS has developed outreach products and additional information on the ITIN program in English, Spanish, Chinese, Russian, Korean, Vietnamese and Haitian Creole. See IRS.gov/itin.

As a reminder, ITINs with middle digits 78 and 79 that expired in 2016 can also be renewed.

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***CPP AND FPC CERTIFICATION STUDY GROUP! OR…… NOT READY TO GET CERTIFIED? JOIN THE STUDY GROUP FOR THE OPPORTUNITY TO LEARN EXPERT PAYROLL KNOWLEDGE AND SKILLS!!

A CPP (Certified Payroll Professional) and FPC (Fundamental Payroll Certification) five-week Study Group Course will be held beginning Saturday February 3, 2018 through March 31, 2018 (every other Saturday) from 8:00 am to 3:00 pm. Cost for the Study Group is $75 for NCPA members. To participate in the Study Group, you must be a current paid NCPA member or become a member of NCPA (Northern Colorado Payroll Association). NCPA Membership for 2018 is $60, which includes two members from the same company or organization. The 2017 Payroll Source textbook will be used for this course and each participant will need to purchase the textbook. If you do not plan to certify, older versions of the textbook may be used. (Session 1 will cover Sections 1, 14 and 2).

******Please email the Study Group Registration form or the NCPA Membership form to ncpchapter@gmail.com or call Debbie Condos, CPP, Study Group Coordinator @ 970-631-2413 or Alana Lane, CPP, Assistant Study Group Coordinator @ 970-231-5861.

Exam Dates:

For CPP and FPC exams administered September 16, 2017 through September 15, 2018,questions should be answered based on Federal laws and regulations in effect as of 1/1/2017.

***WE NEED YOUR INPUT AND IDEAS REGARDING TOPICS YOU WOULD LIKE TO HAVE PRESENTED IN 2018! Please email your suggestions toncpchapter@gmail.com at your earliest convenience. We look forward to hearing from you!

***DO YOU HAVE YEAR END QUESTIONS OUR FPC/CPP’S CAN ASSIST YOU WITH? PLEASE EMAIL QUESTIONS TO ncpchapter@gmail.com and if we can’t help you, we’ll put you in contact with someone in our network of payroll experts!

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